Another day when Indian stock market seen upside down trend that is opened high and closed on a low node. At a moment market was seeing strong but suddenly it crumbled down and nifty lost almost 20.50 points.

Stock market is more likely to expect Bearish.

Today’s Nifty Top gainers were:

RANBAXY with volume and changes 435,077,806.15and 3.6 %

AIRTEL with volume and changes 1,328,353,481.80and 2.4%

HERO MOTOCORP with volume and changes 751,931,534.30and 1.6%

Today’s Nifty Top losers were:

RELIANCE INFRA with volume and changes 2662,579,302.00 and [7.0] %

M&M with volume and changes 2,683,675,576.30and [6.0] %

RELIANCE POWER with volume and changes 321,502,125.65and [5.9] %

Nifty can be expected to follow UP trend in a long term. It seems to be varying between 5085-5200.

TECHNICAL CALLS FOR TODAY: 15th NOVEMBER 2011

TECH MAHINDRA

TECH MAHINDRA closed today’s session at 610.90. Support and resistance levels for the share for the next trading session are:

Resistance1-617

Resistance 2- 625

Support 1- 602

Support 2-596

GITANJALI GEMS

GITANJALI GEMS has seen trading within the range of 351.15. Expected levels for this script are as follow:

Resistance1-357

Resistance 2- 363

Support 1- 344

Support 2-338

RAJESH EXPORT

RAJESH EXPORT closed trading at 143.05. Expected resistance and support levels for the scrip for the next trading session are:

Resistance1-145

Resistance 2- 147

Support 1- 142

Support 2-140

NIFTY OUTLOOK FOR TODAY 15TH NOVEMBER 2011

NIFTY SPOT LEVEL

The Nifty Index opened at 5217.35 and finally closed at 5148.35 rallying down 20.50 points (0.40%) The Nifty high and low of the day were 5228.90 and 5140.55 respectively.

The Nifty Futures made a DOWNTREND of 41.75 points and finally settled at 5150. The 30-share BSE Sensex was trading at 17118.74 down74.08 points.

Market seems to be strongly trades between 5085-5200in narrow perspective and in broad perspective it seems to be vary between 5035-5250.

TREND – BEARISH.

SUPPORT AND RESISTANCE:

The Support and Resistance for Nifty Spot levels

Support 1:5085 Support 2:5035

Resistance 1:5200 Resistance 2:5250

BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly a trade between 9165-9450 in narrow perspective and in broad perspective it seems to be vary between 9000-9600.

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